Weekly Market Outlook For August 12 – 16, 2019

Markets broke to the downside this week but buyers stepped up creating a mixed technical picture.

The short term momentum is to the upside but the technical damage has been done. Buyers need to continue to keep control and defend their levels else risk sellers stepping in and selling the pullback and flipping things back to full-time frame alignment to the downside.

Lots of earnings on the tap for the coming week so expect continued volatility.

ABOUT ME

My name is Houston Truong. I'm full-time independent North American equities, options, and cryptocurrency trader and have been trading for the past for 12 years. I coach traders around the world about the intersection between trading, peak performance, and psychology. I am also the founder of the Montreal Traders Meetup group.